What is that one thing that makes all successful business replications so famous and much adored? It’s the feel that they impart to their customers throughout, beyond boundaries, beyond geographies. Whenever I visit a Domino’s in Bangalore, I get exactly the same kind of service as in Pune. The aroma of freshly roasted coffee beans is the same at every StarBucks outlet. I cannot make out the difference between a McDonald’s burger from Mumbai and New York. And the things about these business replications amaze me every single time.
There’s a lot of thought process that involves the setting up of a successful business imitation. There is more than just a setting up cost that is required to build and take forward a legacy to different locations, different countries too.
If your business is successful and tested at its original location, and you are looking to build a chain, a replica of it elsewhere, there are a few factors to consider before you step up into the venture. In this article, let’s look at the most important points to consider to initiate a business replication and maintaining it.
The Reason for Its Success
Why is your business successful in its place of origin? You might be the only seller in a radius of 10 kilometers, making it obvious for you to succeed. Your family probably has a legacy, a royal name and respect in your location, making people believe in you and your business. The reason for the success of your business in your city can be something very peculiar to that place. If you are thinking of extending it elsewhere, it might not just work out in your favor.
However, if the reason for the success of your products is its uniqueness, its quality, or the brand that you have created for it, taking it forward might just help.
A thorough research of your target market, a study about the trends, traditions, likes and dislikes of the people of the new location helps you understand your new market well. Remember, you were successful in your place of origin.
At a new place you are still a start-up, just with an earned name. To make the best out of this name in this new place, you need to do some extensive research and know your market well.
If you have one unique selling factor that has led to the growth of your business, don’t be afraid to take it forward. One classic example of a business idea that was successfully implemented in over 80 countries is StarOfService. It is aimed at improving the access of professional services to its users.
All you have to do is register, tell what you need and hire your service. The mission was simple, they wanted to make the availability of services as easy as online shopping of products. And, it was a great success. They took this unique idea forward and made huge success. Uniqueness is one thing that can help you make giant success if you are planning to expand your business.
Many large brands are centralized. They have one system that is centralized all over and this centralization not only makes management across cities easy, people love it and feel secure about their transactions.
If you are looking for business expansion, one thing that is really important is developing a centralized process of operations and following it throughout.
The Quality & Consistency
The wow factor about famous business chains is the fact that they strive to bring about the best of their quality and maintain it at all the places where they exist. One master recipe is followed at every Mainland China outlet, and what we get is the exact quality in all the stores.
The best businesses have successfully replicated their models because they have focused on one thing, their quality and strived hard to maintain it over the years. And hence, it is no wonder that people look forward to see their favorite chain of restaurant, cinema hall or retail store opening in their city.
Being a leader in more than just one territory is quite a task. Replicating a business model involves an idea and its execution. Both these factors need to be strong, and they need to go hand in hand. A strong idea that is not implemented well may cause disappointment and nothing else.
Also, a business model expanded in multiple locations needs to be maintained well and managed efficiently. Every entrepreneur who looks for replication has lessons to take from these successful business giants, and implement them somewhere or the other in his model.